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Calgary Momentum Builds Towards Recovery. Are you jealous? Huh, Vancouver?

Posted by Rachel R. Vanderveen on Tuesday, October 4th, 2011 at 5:00pm.

Real_Estate_Roller_CoasterWith more positive showings in our monthly statistics package from the Calgary Real Estate board, Calgarians will have a lot to be thankful for this Sunday when we carve the Thanksgiving bird! Other Canadian cities have shown sharp increases and decreases in home prices and demand, while Calgary Real Estate was the little turtle---winning the race slow and steady.

The Calgary Real Estate Board and the fine people at TD Economics both agree that all the indicators are pointing towards a recovery for Calgary homes and properties despite the economic challenges which face the world at large. “Undoubtedly, there are a lot of unknowns in the world’s current financial situation, but Calgary and Alberta may be relatively safe havens amidst this uncertainty,” said Bob Jablonski, CREB president. “Granted, gains in the housing market have been gradual – but we are seeing signs of improvements. Our province’s growth is expected to outperform the national average, and this will help buoy consumer confidence in Calgary and Alberta.”

On our side to aid in our recovery are stable oil prices, in-migration, and rich job creation. Having a bit of political certainty in the PC race doesn’t hurt either, now that people know who will (likely)be Premiere for a while yet to come.  (Congratulations, Allison!)

Vancouver on the other hand, well things don’t really look as good for them. Now I want to put this lightly because you say one thing wrong and suddenly you’ll get a bunch of Vancouverites running out of their homes to light cars on fire and smash windows and whatnot. So, let’s see. Vancouver…your city is really, really special, and trust me, everyone thinks you’re very special and capable, but it looks like TD Economics thinks your housing prices might drop 14.8% from their peak. But who needs a strong Real Estate market? Trust me, Vancouver. It’s overrated.



Rachel Vanderveen

The Vanderveen Team
Maxwell South Star Realty
Phone: 403.253.5678 Fax: 403.592.6736

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